Case Studies
We have been privileged to have been instructed by our clients on a number of notable cases. Below are a selection of case studies to demonstrate a flavour of our work.
Energy Generator Hire
Purpose
Administration
Sector
The Hire & Sale of Plant & Machinery, Specialising in Power Plant & Generators
Task
Asset Tracing & Recovery. Valuation & Realisation.
Location
United Kingdom
The administration of Energy Generator Hire was managed with a commitment to preserving value and ensuring a seamless process for all parties involved,” said Terry Madden, Managing Director of Wyles Hardy & Co. “Our expertise allowed us to navigate the complexities effectively, delivering transparent and efficient outcomes.
Overview
Wyles Hardy & Co was appointed to oversee the valuation, asset tracing, and sale of assets for Energy Generator Hire Ltd., a business specialising in plant and machinery hire, including power plant equipment and generators, following its entry into administration. Initial assessments revealed discrepancies in asset schedules, with the majority of assets subject to third-party finance agreements. The project evolved into an extensive asset tracing exercise across multiple UK and international sites to ensure accurate recovery and allocation.
Method
Wyles Hardy began with a comprehensive review of asset schedules, uncovering multiple discrepancies requiring detailed asset tracing and verification. With over 40 finance companies holding claims on the assets due to arrears and terminated agreements, Wyles Hardy coordinated directly with each financier, as well as third-party collection agents, to identify legitimate ownership. Assets were located and traced across various sites, requiring coordination of logistics to recover and reallocate assets to the rightful financiers. We conducted a thorough analysis of ad hoc agreements between company officers and creditors to resolve additional ownership claims. After securing ownership, wholly owned assets were separated from financed assets. Finally, wholly owned assets were marketed via timed online auctions and private treaty sales, targeting industry buyers for optimised recovery.
Results
- Asset Tracing & Recovery: Successfully traced and recovered over 95% of disputed assets, reuniting them with the correct finance companies, despite extensive and complex agreements.
- Wholly Owned Assets Sold: The sale of wholly owned assets through online auctions achieved prices in line with market expectations, with strong bidder interest from industry buyers.
- Third-Party Finance Coordination: Coordinated successful recoveries with over 40 finance companies, ensuring clear and compliant return of financed equipment.
Conclusion
The Energy Generator Hire Ltd. case demonstrates Wyles Hardy’s expertise in asset tracing and management under complex financial and legal conditions. Our thorough analysis and direct coordination with multiple finance companies enabled an efficient resolution of ownership claims, while asset tracing secured a high recovery rate even across numerous sites. By leveraging online auctions, we ensured a fair and transparent sale process for wholly owned assets, maximising market reach and returns. This case underscores the importance of meticulous asset tracing and multi-party collaboration in optimising recovery in finance-heavy industries. Wyles Hardy’s structured approach facilitated timely resolution and optimised financial outcomes for all stakeholders involved.
